Charles Schwab Falls 10% as First Quarter Profit Declines to $1.4B
(Schwab) Charles Schwab reported a net profit of $1.4 billion in the first quarter of 2022, down from a profit of $1.5 billion in the first quarter of 2021. The…
Casa Systems Soars 58% After a Multi-Year Contract Award by Verizon
(Casa Systems) Shares of Casa Systems Inc. rose more than 58% on Monday after being awarded a multi-year 5G contract by Verizon. Under the deal, Casa Systems will provide Verizon…
BNY Mellon Revenues Unchanged in Q1 2022, Net Income Falls 18%
(BNY Mellon) The Bank of New York Mellon Corporation reported total revenues of $3.9 billion in the first quarter of 2022, unchanged compared to the prior year. Excluding the impacts…
Bank of America Reports $23.23B Revenue in Q1 2022 on Better Credit Quality
(BofA) Bank of America posted total revenue of $23.23 billion in the first quarter of 2022, higher than $22.82 billion in the prior year. The revenue was higher than estimates…
Didi Stock Falls as Revenue Drops 12.7% In Q4 21, Schedules Us Delisting Vote
(Didi) Shares of Didi Global plunged more than 19% on Monday after posting a 12.7% decline in revenues in the fourth quarter of 2021. Didi’s revenue in the fourth quarter…
China’s GDP Grows by 4.8% in Q1, Exceeding Estimates, and Unemployment Hits a Record
(NBS) China’s economy grew by 4.8% in the first quarter from the prior year, surpassing estimates of 4.4% gain despite Covid-19 slowdowns. Most economic parameters beat estimates in the first…
Tron Founder Justin Sun Competes With Musk to Take Twitter Private at $60 a Share
(Twitter) Tron Founder Justin Sun is seeking to take Twitter private at $60 a share, eclipsing the offer of $54.20 a share by Tesla’s CEO Elon Musk. Sun concurs with…
NY State Manufacturing Shots up by 36 Points in April, Optimism Wanes
(NY Fed) The index gauging the general business conditions in the New York State manufacturing sector rose by thirty-six points in April to 24.6. The increase in manufacturing activity happens…
Defensive Sectors Outperform S&P 500 as Growth Concerns Mount
(Reuters) Utilities sector has returned over 6% this year, while staples have gained 2.5%, against a general 8% decline in S&P 500 as investors turn defensive in a tighter economy.…
Ripple CEO Says Case With SEC Proceeding Better Than Expected, XRP Rises
(Cointelegraph) Ripple CEO Brad Garlinghouse has shown optimism of its case with the US Securities and Exchange Commission, pointing out that the progress has exceeded expectations. Garlinghouse comments come when…
Chinese Mainland Shares Dip as PBOC Defies Expected Rate Cut
(CNBC) Chinese central bank on Friday decided against lowering the interest rates, which dampened the sentiment on shares listed in the mainland. The People’s Bank of China voted to keep…
Oil Traders to Shun Russian Oil From May 15 as Sanctions Mount – Reuters
(Reuters) Leading global trading houses will reportedly cut purchases of crude from Russia’s state-led oil companies from May 15. The reported move comes as the trading companies seek to comply…
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